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tv   [untitled]    April 28, 2011 8:30pm-9:00pm EDT

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r.t. america thank you so much for watching i'm christine for have a great night. bringing you the latest in science technology from the realm of. the future.
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been here broadcasting live from washington d.c. coming up today on the big picture. of.
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the. skies or this is because the report chock full of voodoo and cults tenet cults the two dollars speaking of dolls stacy herbert tell me more in the cult of america is in the news and many of our headlines here max i am a bomb shell age of america and the international monetary fund has just dropped a bombshell and nobody noticed that's the important. lion air from dow jones market watch nobody noticed because of course nobody in a cult ever knows that they're deranged it's only outsiders that it's it was obvious to you for years before that's right whether in scientology or whether you're long the dollar you're in an insidious cult a snow globe of denial and your world is crashing the part of you well the i.m.f. has set like hell but thirty day pay set an actual date for the end of this cult
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and that is china will surpass that of america in real terms in two thousand and sixteen well it's already happening i think twenty sixteen will be the recognition by the us government in the form of transferring ownership of fannie mae and freddie mac. the biggest landlord in america to the people's bank of china i've made that prediction before on this show i think we'll see it in two thousand and sixteen but the transfer of power is already underway and you know this is unmistakable but nobody in america wants to talk about it because it might upset the popular delusion and the madness of crowds driving attendance at the theme park like assembly line of self actualizing can do attitude that has given us such triumphs in popular culture as idiocracy and jackass here's another headline along these lines of.
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the members inside the cold have no idea just how doraine they're looking america appears to be sleepwalking towards disaster there's no one care this is liam powell again a telegraph and he's wondering why the dow closed at three year highs just as the s. and p. downgraded the outlook for u.s. debt well most of the volume on the exchange yes and p. five hundred the dow jones as we've talked about on this show was driven by robots but by high frequency trading bots courtesy of folks like goldman sachs we talked about it on the show goldman sachs has servers park next to the exchange they put in millions of trades every single day they steal hundred million dollars on average per day and this is keeping the prices artificially high like wile e. coyote shortly before he plummets down into the canyon and his quest to capture the road runner in this case the road runner is being eaten by china and america is
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plummeting to its death into the canyon of a never never land and then here's another headline see headline after headline after headline of people recognizing that america and the american dollar and people who have faith in it still are members of a cult over the past few years mainstream analysts have shown a tenacious blind faith in the u.s. economy and the dollar that goes far beyond religion to the point of mindless cultism and this is from max kaiser dot com but it's a quote from brandon smith of market and he's looking at the fact that america looks like a cult but he said when even they begin to question the future of american finance as has been occurring more and more every day you know it's time to worry yes it's beyond religious fervor that's the point it's become this echo chamber cult like america can fail which is very. and then nick and. and you see like
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suicide cults whether it's so another one jim jones remember him the kool-aid they made the idea of drinking kool-aid popularize that notion everyone committed suicide and beyond them or they held common colds here you've got three hundred million americans who are worshipping this idea of american style free market capitalism that doesn't exist they support market manipulation of the last three and they're going to die as a result now that's less than five percent of the world's population it is twenty five percent of the world's garbage so the rest the world the british side really but as far as those living inside they don't really understand that they're being used as cold thought or the equivalent of drinking the cyanide laced kool-aid would be purchasing a mcmansion with a some prime mortgage this is them committing suicide it's the equivalent of drinking cyanide laced kool-aid it's financial suicide as we talk about financialization of the economy has turned into this hybrid reality with that combines political malfeasance with financial larceny and that's the combination
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between obama's white house and wall street merging together into something even more insidious than fascism with a club to suck as a it's a club that. is the current political financial school of thought in america today and it's not working it's unsustainable let it go at this point that this koolaid drinking this subprime mortgage taking population is the headline c m b c video let's bulldoze the foreclosed home because the pictures the wife i or whatever even the color is not going to be stylish by the time someone buys them so let's take a look at this video from c.m.t. see six point three percent below where we were a year ago so we want to throw out this idea that you know people have talked about over the past few years but maybe it's finally time to realize we need to do it should we care down bandon homes foreclosed homes power or even built homes by the
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homeowner. is that you know all the fixtures in the life or whatever even the color are just not going to be stylish by the time people actually want to buy and yes well of course this is what they tried actually in the one nine hundred thirty s. cultural products milk and other cultural products were destroyed did it work then no nothing worked and they tried to get a price to go up by destroying the food even though people were starving in america you've got millions of people homeless going to destroy houses to try to bump up the price never thinking that maybe if you put the homeless people into the hauser's you would create an economic stimulus that would foster tax revenue and perhaps give you the means to pay down your debt no that would require mathematical skills giving you the ability to add two plus two and coming up with four but that is beyond the current mathematical ability of the obama what is that two plus two equals. a gathering at facebook headquarters in california to get
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a bunch of stupid people on facebook to vote for me because they're morons yeah so the rest of the world is aware of this cult behavior they see these americans having drunk the sub prime kool-aid and hoping to fix that by bulldozing these homes and here's the headline max gold and silver making new huge moves as china makes fresh noises about dumping the buck so this is from business insider port joey's and paul really have said he's a classic part of a cult joeys opposed to squeaky fromme on the paper but cole every time silver goes higher he writes a line this is gonna be a bubble this is going to be. taller than a bull joke and you're friggin psychotic well he's reporting on there are reports of unnamed people's bank of china officials talking about shifting the bank's massive reserves into hard assets outside the dollar and also there was another
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report over the past week where an important banker in china. encouraging the chinese central bank to get rid of two currents of their dollar reserves a three trillion dollars so get rid of two trillion of it and move into hard assets and other commodities well this is where peter schiff could be right again you know couple years ago we came out this idea of decoupling that trying is going to let the yuan yoram be appreciate bust giving chinese increased purchasing power to ride out this huge financial cluster bomb that's affecting economies all over the world and that's certainly in the cards if the r. and b. appreciates and chinese have got that ability to ride out the inflation happening in food and energy so peter schiff i think is going to be on the show coming up soon and we can talk about it in more detail but the guy is a oracle ok i don't care what anybody says he's knows what's going on and then here's another headline from max keiser dot com and i pick your headlines because you always take the quote that is so important and relevant and make it better
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which i program my view dollface never to say that. eric sprott what the so called silver experts neglect to account for in their models and projections is that the money experiment has failed and in this context we believe the market has assigned world's reserve currency status to gold not the us dollar well there is a sneaky thing going on in the global economy states herbert gold and silver are becoming but the fact world reserve currency if you've got gold vending machines in airports around the world people watching this show in airports around the world are probably walking by a gold vending machine right now go get yourself some gold the proliferation of gold exchange traded funds on exchanges all over the world the internet this is the first time since the internet came around and became globalized back in the late ninety's early two thousand there you had an attempt to create a hard money global currency standard and it's facilitating this in a number of ways of spreading information it's spreading the ease with which people
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can buy in. your goal easily spot prize puzzle couple percentage points and this is what people are doing it as they do it the crowd out the paper money the money the keynesianism there's been a place since world war two best been a huge failure there's nothing paul krugman is a huge flopping nonsensical dirt bag over there the new york times makes no frickin sounds well you know that as i said this quote is from eric sprott he's a big buyer of silver and he's just saying that a lot of people like joe wiesenthal also had a headline talking about silver in a puddle and they're just getting it all wrong you're not looking at that that we're in a new paradigm shift and that brings me to this final headline coming back today i am math banks face three point six trillion dollar wall of maturing debt i.m.f. says so the world's banks face a three point six trillion dollar wall of maturing debt in the next two years and they must compete with debt laden got governments to secure financing the i.m.f.
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warrant last week but for thirty years all these governments have been extending the maturity and now like the tide moving out during a tsunami those on the beach. i think that oh my goodness look at all these pretty shells i'm going to way out into the areas there and pick up all these pretty shells not knowing that the tsunami wave is about to crush them this is the tsunami of maturity that's about to overwhelm the entire global economy and force in my opinion the introduction of a new global currency based on a special drawing rights introduced by the i.m.f. and the i.m.f. is getting aggressive about downgrading the u.s. because the u.s. is no longer going to be running the global economy anymore it's going to be a central bank somewhere in europe with the i.m.f. and the world bank and a new global reserve bank and people are going to be paying world tax country tax state tax and local tax to pay for this new world bank and it's all coming very very quickly and of course trying to have
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a huge role in determining the value of these currencies going forward in the new currency grid post bretton woods to post world reality well the i.m.f. gives you some advice on which are the lowest lying lands if you're going to avoid the tsunami irish and german banks and the most debt to roll over this year and in terms of national sovereign debt japan and the u.s. have the most amount. looks like plenty more coming your way on this show going forward as the global economy collapses well stacy ever thanks again for being on the kaiser report thank you max don't go away much more coming your way every talking to chris martin fascinating guy so stay right there. used to day violence is once again flared up. these are the images. from the
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streets of canada. for egypt to rule the day. hey tom our been here broadcasting live from washington d.c. coming up today on the big picture. welcome back to the kaiser report time now to go to massachusetts talked with chris martenson author of the crash course the unsustainable future of our economy energy
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and environment chris welcome to the kaiser report thank you it's good to be back all right chris lawrence and you write the breakdown draws near your timeline is imminent tell us about it there are so many pressures that are still building in the system that have been washed out of the system we failed to take advantage of a perfectly good crisis and the leverage just we shifted a whole lot of. debt from the private side to the public side that happened all over the world and now on top of this we have the japanese quake a rather startling drop off in g.e. in the world's third largest economy with the no one after effects that are going to go on we were one of the things i'm predicting it's not just the products not just the i phones we have to worry about your it's the reversal of decades long patterns of liquidity flows coming out of japan and we're back into japan at this point time couple that with the federal reserve making noises about dropping q.e. two at the end of that not going straight to q e three and i think they see a very large the quiddity problem coming up to
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a theater near you soon now i want to stay on this for a little bit here chris lawrence and because we were describing a situation where normally people would be penalized if their businesses or they bought. money imprudently and it turned bust and the system washes those people out now when that occurs there is a segment of the population that benefits wildly and these are the savers in other words if the economy is going through a period of saving of capital aggregation those people who are living on retirement income those people who are living on pensions those people who are saving money those corporations who are prudently saving money though they benefit in that scenario and what we've seen in the last twenty years is that savers people actually form the backbone of a system the capital system are being completely penalized and in fact subsidizing the malinvestment of the system could you talk a little bit about that i'm
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a huge believer incentives you know you get what you incentivize and right now we're incentivizing people to speculate we're incentivizing those who take huge risks we're incentivizing people who want to borrow more and more and more even though i think this whole program that we're in the predicament would be seen to be summarized in three words to begin with too much debt and you're exactly right on the other side of this when we're subsidizing all these all good people maybe you shouldn't be we want to use a term like that i mean these are people who know the speculators people who went to four are being rewarded essentially on the backs of savers but let me ask you a question concerning another big part of the economy that we've used to rely on and that these are these so-called bond vigilantes this is the group of folks who if the fed is getting to a profit and injecting too much cash into the system they would sell bonds and treasury bonds to the point where the fed would have to become more prudent in
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their policies they're they seem completely absent currently and the slack seems to be being picked up by what i call the gold and silver vigilantes so question is. what happened to the bond vigilantes and is it true that the gold and silver vigilantes have stepped into the breach and really the the new sheriff in town would have been the bond vigilantes i wish i knew my speculation is they're actually fully in swing there in action when it comes to portugal when it comes to ireland when it comes to greece and were seen by indigenes in full swing mirror but in the united states i think probably the person who could be described as maybe the largest vigilante the person who's best position where we will we're just going to treasury is bill gross pimco who goes to and through it's hands up and said listen we're walking away from treasuries we don't like overpriced at this point in time and the market barely blinked over the mass because the fed is the largest purchaser and now the largest holder of treasuries in the world i mean the whole point before it used is the original motto but if you can't point the period on the
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flowing of the fed's home turf to well you go to gold and silver so absolutely i agree that gold and silver are signaling something very important here and what they're telling me it's the same thing that i've been worried about for years which is that money and self concept that money itself is now at risk and the fed is playing it very dangerous came here and there are conducting an experiment and i guess down one path everything works out maps nice but down the other path we face destruction of the world's reserve currency let me pick your brain a lot of air for a second then we're banking when he testifies before congress they ask him about inflation and he says you know what i am more worried about the flash and we later learned from insiders who work at the fed who are now working in the private sector that what bernanke he looks like it looks when he says terminating whether you've got inflation or deflation he looks at these tips the treasury inflation protection securities because they are an indicator of future inflation trends and he looks at
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those and he sees that they're not trending up much of a spread over the ten year treasury and in his mind he he doesn't look at gas prices he doesn't look at food prices he doesn't look. any of the things that people are experiencing every single day in terms of inflation he only looks at this one indicator and as we've just described with the absence of the bond with the land isn't that indicator faulty and isn't it looking at an index that's given completely false signals and isn't he therefore kind of a boy in the bubble who's just spewing pure garbage that's a very fair characterization so the fed is buying through there so much tips on a daily basis weekly basis we see the treats going to cross this all the time and so how can you on that one ian buy these things and you know obviously when you're buying something pretty buying pressure you're pushing both the price up and the yield down and then to look at that and say hey look be yield this is kind of load here so i'm not worried about inflation itself referential garbage as you said of
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the highest order it's just nonsense when he puts it out there and people not their heads and go oh well i mean that's what he said it looks like he's he's got his eye on the ball meantime if you look at commodity inflation this isn't like just sort of happening since january you can put a commodity chart up maybe a continuous commodity index one of my favorites two thousand and two we've been on now pretty much a ten year old run in commodities all thanks to global only low interest free money punish the saver policies with it's it's now got to the point where it's just silly for the fed to say we're worried about deflation we're disinflation given all the things that we need all the things that can be exploited usually a crisis for all of those are going up very strongly so it's risking the most important thing in the fed's tool box which is their credibility now is the guy handling it on flatulence and saying oh that smells pretty good. so you were recently interviewed by. merck are you in of are you viewed actual market who is
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very well known in the currency space runs a few funds now the point of this one of the big points of the center of the it was that why is anyone waiting to sell the dollar so here we. i've got a situation where the feds out of control they're delusional they're spewing garbage they've got total rampant market manipulation in the market places the top of the dollar so what are people waiting for now if the dollar is getting close to its all time low but hasn't dropped into its all time low what what's happened happened now in the near future but eventually you know when we get out five ten years i think everybody knows what happens if the united states doesn't get off of its fiscal prophecy and get its multi-trillion dollar deficits under control if it doesn't stop just printing money and putting it out into the universe as it were sooner or later we're going to have a currency accident and u.s. dollar you know in u.s. dollar special its worst reserve currency of the world and there's trillions of them parked all over the place in custody you count at the fed various central bank
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vaults all over the place some of it even unnatural says in south america i mean it's everywhere once the dynamic comes where people really lose faith in the dollar i think we're going to see a very rapid evolutionary sware change and mediately in the dollar's value i think the answer to this right now is that there's a lot of people here are the ones who really control the movement of things in there so they're all thinking as long as the music's playing i got opinions right so when do if you're holding several billions or maybe even a trillion u.s. dollars what do you do if you're china it's a really tricky business and somewhere between here and bear i'm convinced that the dollar has a date with a much much lower value and the concern is that it will get there in so rather disorderly disruptive way on some tuesday in february sometime you know it's just going to be an event. that will just you know some markets work pressures build big build build and finally release just like a following getting and so there's there's definitely pressures on this right you know i see the dollar is having a disaster at some point unless and until lot of things change and i don't see any
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evidence that those things are changing now i read recently that people in america who are upset about the rising price of gas they drive their car around from station to station looking for. gas and so in fact they have run out of gas and they're stuck on the road somewhere with no gas now apply this analogy in this thought process to this wall of maturing debts that you write about and this day of reckoning for the dollar it seems that over the past twenty years the problems have been kicked down the road by extending the charities the defer and forget you know mentality but what we're seeing is that all these maturities that are clustered around this huge wall of maturing pets so how much is due to mature what's the timeframe on this and is this the fact that they have reckoning is it tied in to what you say you think could be the dollar. you know ron dave with the destiny so also who governments that they have two things they have to worry about the new bed
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issuance that they have to put out there so they float use things and in say the treasury auction in the u.s. this case and the fed steps in you know ends up going to quibble about seventy five percent of that best just the new issuance then there's what you're talking about too which is this wall of maturing debt meaning you know we saw the one year bond last year now it's a year later guess what we have to pay it off and we want to roll them as we go forward so right now in japan over fifty percent of their g.d.p. is going to ensuring over this next year it all has to be financed and the united states it's about twenty eight percent of g.d.p. these are enormous numbers all of that has to be ruled in and it has to be able to very schooled by the markets and if it's not it will be able grabber. and that's you know what you're raising is a really serious issue because we have not just the sovereign debt that's all which are very which is about twenty seven percent across all the advanced economies twenty seven percent cheapie we also have a whole bunch of bank at this coming due we've got option arms that are coming due
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we go all this debt that's just coming due this is the context for understanding really what the fed is doing it today you tend to ponder sleepers know what they're looking at this whole suite of pain is coming up we're saying listen if we have to sacrifice one or two of these things i do. it's going to be to save us because if we don't have a liquidity to fund all this debt it will not roll we'll have a gigantic phony actual accident i understand why they're doing that without looking at just what comes after that so you save the system for another day to get to where you're going to underdog go kate for a while that's great but what about next year and next year the pressures just keep building in this is the problem we're facing the predicament we're facing is we don't have a clear plan for how we're going to get all of this debt funded and paid for index seemed like our system wants to say explained a great book the system we have the money system needs to keep expanding this is the fight that they did under so you know i should just take a minute i think the e.c.b. it is facing the same issues china is looking at the same issues he is looking to
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see visions we're all here but i would say tomorrow as ripe we're in the middle of it right now right it has to keep expanding just like made off to keep expanding and enron had to keep expanding this is an enormous ponzi scheme and as you point out once the jig is up they can pack it down into a huge catastrophe very very quickly and the fact that our leadership in america is doing nothing to prepare people for that is really quite tragic all right chris lawrence and we've only got through half my questions a lot that eon again thanks for being on the kaiser report thank you pleasure to mine all right not going to do it for this edition of the kaiser report with me max kaiser and stacey herbert and i think my guest chris martin said if you want to send me an email please do so at kaiser report at r t t v are you with a lifetime this is my kind of thing elf.
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